Toyota is preparing a new sub-compact model for the U.S., Canada and Mexico that will be based on the Mazda2, with manufacturing to take place at Mazda’s plant in Mexico. The factory is currently under construction and is scheduled to become operational within the fiscal year ending March 2014.
The two companies made the announcement today stating that the as-of-yet, unnamed model will begin production around the summer of 2015 at a pace of 50,000 units per year and will be sold through Toyota dealerships in North America.
“Through the agreement, TMC [Toyota Motor Corporation] aims to strengthen its North American vehicle line-up, while Mazda aims to increase production efficiency and contribute to its profitability,” the two Japanese carmakers said in a common statement.
It is believed that the Toyota model will be based on the next generation of the Mazda2, while speaking to Autonews, Toyota spokesman Dion Corbett clarified that it will be a new offering that will not replace another model in the brand’s range (the Yaris in particular). “This is part of our attempt to broaden the North American lineup,” said Corbett.
While Mazda is building the factory in Mexico, Toyota said it will invest “an appropriate portion of production equipment costs and development costs related to the Toyota vehicle and also an appropriate portion of costs related to the plant’s production-capacity increase”.
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